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Fortune News

Feb 2 , 2025

Utility Expands Smart Metre Installation to Curb Power Theft, Improve Service

The Ethiopian Electric Utility (EEU) is rolling out smart electric metres across Addis Abeba to combat power theft, enhance customer service, and modernise its infrastructure. The project, funded by t...

Jan 25 , 2025

MOTORISTS HIT BRAKES ON TOUGHER FINES

Many motorists face new and stricter traffic regulations introduced by the Council of Ministers. The regulations include a three-tier penalty system with higher fines and demerit points, hitting offen...

Jan 25 , 2025

Capital Crossfire Catches Geez Bank, Promoters Bicker Over Future

Geez Bank, a nascent commercial bank, currently under formation, is embroiled in a tense dispute that has overshadowed its promoters' plans to begin operations. Organisers are divided over whether to...

Jan 25 , 2025

Leather Exports Face a Hard Floor as Officials Try to Patch Forex Crunch

Ministry of Industry (MoI) officials have taken exporters by surprise, imposing minimum export prices for 12 leather products, a move they say is designed to raise foreign currency earnings and fight...

Jan 25 , 2025

Hibret Bank Names Tsigereda Tesfaye as President During Shifting Industry Dynamics

Hibret Bank's board of directors, chaired by Samrwit Getamesay, has nominated Tsigereda Tesfaye as its sixth president, submitting the request for regulatory clearance to the National Bank of Ethiopia...

Jan 25 , 2025

Ethiopia, Djibouti Trade Blame Over Deteriorating Corridor

The Ethio-Djibouti transport corridor, a vital trade route, is facing severe problems due to deteriorating infrastructure, outdated vehicles, and regulatory disputes, with both sides blaming each othe...

Jan 25 , 2025

Parliament Moves Closer to Establishing Certified Accountants Institute

Parliament is moving close to establishing the country's first institute for certified public accountants and auditors, as a draft proclamation was submitted for ratification following a final public...

Jan 25 , 2025

Embryonic EV Industry Crumbles as Imports Dominate Market

Ethiopia's electric vehicle (EV) industry is under pressure from import competition, rising taxes, and unclear policies. Assemblers cite high taxes, foreign exchange instability, lack of financing, an...

Jan 19 , 2025

THREADBARE TRADITIONS, WEAVING UNRAVELS FAST

The looming scarcity of essential imported materials has overshadowed traditional weaving in Addis Abeba. Weavers recall a time when Timqet festivities meant a flurry of orders in the northern outskir...

Jan 19 , 2025

Hailu Shawel's Family Embroils in Billion-Birr Property Dispute

The family of the late Hailu Shawel, a civil engineer and a prominent opposition leader, is embroiled in a high-stakes lawsuit over assets allegedly worth billions of Birr. His widow and several child...

Edible Oil Industry on the Brink as Factories Shut Down, Succumb to Foreign Competition

The edible oil industry is on the brink of collapse, with the number of fully operating factories plummeting from 60 three years ago to just four. Over 20 manufacturers have permanently closed, while...

Jan 19 , 2025

Finance Shortfalls Entangle Pharma Supplies, Distributions

Pharmaceutical manufacturers have underperformed, failing to deliver 4.1 billion Br worth of medicines to the Ethiopian Pharmaceutical Supply Service (EPSS) over the past two years, according to a rec...

Jan 19 , 2025

New Law Regulates Organ Donation, Restricts Gifting

A recently passed Health Service Administration & Regulation Proclamation legalises the donation and transplantation of organs and tissues, consolidating health service regulations under a single...

Jan 12 , 2025

Wegagen Bank Casts First Stone in Securities Exchange Pond

Wegagen Bank, lined up to become the first company to list on the newly launched Ethiopian Securities Exchange (ESX), has cleared a key milestone in its quest to go public. On January 10, the Bank reg...

Jan 12 , 2025

Illegal Trade Threatens Export, Tobacco, Pharma Industries

Ethiopia's key industries are battling the contraband trade. Leaders from tobacco, coffee, livestock, and pharmaceutical sectors have called for urgent government intervention to combat the threat. ...

Jan 12 , 2025

Alleged Shareholder Sues Sunpay, Demands Dissolution

An alleged shareholder of Sunpay Solutions S.C., Bruck Fikre, has filed a lawsuit seeking the recovery of his claimed shares, originally valued at 1.3 million Br. The legal action follows a series of...

Columns

Commentaries | Apr 13, 2025

Officials Bank on Student Service to Patch a Fractured Country

The federal government will soon require one year of national service from university stud...

Editorial | Apr 13 , 2025

When the Lift Lets Users Down

Key Takeaways: Human stories, like Hiwot's and Mekdes', reveal dire safety lapses i...

Featured | Apr 6 , 2025 . By YITBAREK GETACHEW

Trenches of Tax Turmoil

Key Takeaways: Merkato's bustling trade shows signs of a slowdown, manifesting deep...

Agenda | Apr 13 , 2025 . By BEZAWIT HULUAGER

MERCATO TAXED TO SILENCE

Some parts of Merkato have fallen uncharacteristically silent, contrary to its typical bus...

Fortune News | Apr 13 , 2025